M&A Spotlight: Aya buys Cross Country
Staffing Industry Review
M&A Spotlight: Aya buys Cross Country

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Featured deal
Buyer: Aya Healthcare
Target: Cross Country
Announced: Dec. 4, 2024
Terms: $615 million
Update: In a Feb. 20 regulatory filing, Cross Country reported that it and Aya each received a request for additional information about the deal from the US Federal Trade Commission. The filing did not specify the type of information that was being requested. The companies expect to finalize the deal in the second half of 2025.

Analyst’s Take
“Aya Healthcare was already the largest healthcare staffing firm in the US by a significant degree, and this large transaction implies a combined entity with roughly 20% market share. In addition, Cross Country CEO John A. Martins previously was a strategy executive at Aya Healthcare, which means that there may already be some similarities in strategy that could help the two firms to operate in alignment together.” – Timothy Landhuis, VP of Research, SIA
Other notable deals
Acquirer: CHG Healthcare
Target: CareerMD
Announced: Feb. 27
Terms: undisclosed
Why it matters: The CareerMD platform educates physicians on their choices — one of the reasons for the acquisition, Scott Boecker, chief digital officer at CHG, told SIA. CHG ranks as the largest provider of locum tenens in the US.
Acquirer: 24 Seven
Target: Core Resources
Closed: Feb. 3
Terms: undisclosed
Why it matters: Core Resources, based in Toronto, provides IT solutions and staffing to the financial sector. The deal marks 24 Seven’s ninth acquisition and accelerates the company’s growth trajectory.
